The Relative Share of Labor in United States Agriculture, 1949–1968

Theodore P. Lianos

32 citations0/0 files storedAmerican Journal of Agricultural Economics

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Agricultural economics and policies Labor market dynamics and wage inequality Agricultural Economics and Practices

Abstract

Abstract The sources of change in the relative share of labor in the American agricultural sector are examined within the framework of neoclassical production theory. It is found that the observed decline in labor's relative share is due to the increasing capital‐labor ratio adjusted for changing efficiency of factors and to the elasticity of substitution which is greater than unity. It is also found that the efficiency of capital is increasing faster than that of labor and that technological change in American agriculture has been labor‐saving.

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References

1967Distributed Lags: A Survey 1939Relative Movements of Real Wages and Output 1970The Neoclassical Theory of Production and Distribution 1965Biased Efficiency Growth and Capital-Labor Substitution in the U.S., 1899-1960Biased Efficiency Growth and Capital-Labor Substitution in the U.S., 1899-1960

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